Minus the fact that oil prices ended at $53.57 a barrel today, near a record high of $55.
reference articles here and here
Jobs are still being created in this economy and at a pretty brisk clip:
A decline in new jobless claims and a jump in the employment component of a U.S. service sector industry survey helped to fortify already entrenched expectations that the Labor Department's February employment report on Friday would show solid jobs growth.
In addition to that, productivity in the economy suggests inflation (rising costs of goods and services) remains tame.
A government report that U.S. productivity was faster than expected in the fourth quarter last year suggested that inflation in the longer term remains subdued, analysts said.
Retail sales are also up sharply:
A brightening jobs picture, early tax refunds and a later date for the largest single U.S. sports event boosted February sales at Wal-Mart, other discount retailers, and warehouse shopping clubs.
At the same time, youth-oriented clothing sellers -- which were one of this past holiday season's strongest sectors -- continued to post sharply higher results.
These are all indications that America's economy will continue to be a world leader for strength and growth. These factors also bose well for President Bush's intention to use the growing economy to decrease the US account deficits. Better sales of items means more tax revenue to the government.
A recent poll by CBS News/New York Times indicates that 43% of Americans want to make President Bush's tax cuts permanent while 40% want to allow them to expire.
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